Trump Blocked From Ousting Fed Governor Lisa Cook Before Pivotal Interest Rate Decision By Appeals Court Ruling

Federal appeals judges blocked Trump’s attempt to fire Federal Reserve Governor Lisa Cook before a crucial interest rate meeting, according to CNBC. On Thursday, Trump’s attorneys sought an emergency pause of a lower-court ruling that blocked Cook’s firing while her lawsuit against the president proceeds. The D.C. Circuit ruled Monday night that Cook, who sued to block her dismissal, can remain on the Fed’s board while the case proceeds. Trump moved to oust her in August, citing mortgage fraud allegations she denies. The unprecedented firing attempt came as Trump pushed for steep rate cuts and clashed with the Fed’s independence. Judges appointed by Biden agreed that Trump’s action likely violated due process, while a Trump appointee dissented, saying the president should have authority to remove her.